A note on the structural stability of the equilibrium manifold

In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non-local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it.     

Termination clauses in partnerships

We show that when designing a partnership agreement partner firms may prefer not to specify how to allocate the commonly owned assets should there be an early termination of the contract. By not including such a clause, firms induce litigation before a Court with positive probability. Firms create this ex-post inefficiency in order to increase the levels of non-contractible investments, i.e. increase the ex-ante efficiency. The absence of an asset allocation clause works as a “discipline device” that mitigates the hold-up problem within the partnership. In our set-up, no other contract but that without an asset allocation clause can credibly create an ex-post inefficiency.     

Does player specialization predict player actions? Evidence from penalty kicks at FIFA World Cup and UEFA Euro Cup

Penalty kicks are analysed in the literature as ‘real life experiments’ for assessing the use of rational mixed strategies by professional players. However, each penalty kick cannot be considered a repetition of the same event because of the varying background conditions, in particular the heterogeneous ability of different players. Consequently, aggregate statistics over data sets composed of a large number of penalty kicks mediate the behaviour of the players in different games, and the properties of optimal mixed strategies cannot be tested directly because of aggregation bias. In this article, we model the heterogeneous ability of players. We then test the hypothesis that differently talented players randomize over different actions. To achieve this aim, we study a data set that collects penalties kicked during shoot-out series in the last editions of FIFA World Cup and UEFA Euro Cup (1994–2012) where kickers are categorized as specialists and non-specialists. The results support our theoretical predictions.     

Innovation in knowledge-based professional service firms. An integrated conceptual model*

ABSTRACT

The current paper offers a new conceptual model to understanding innovation processes in professional service firms, to make hidden relationships more explicit and to find out what are the issues still unexplored. The paper employs a systematic literature review, and draws upon original categorizations of extant literature, to identify main processes for each category of PSFs. It unveils connections among a wide range of factors setting a conceptual model for innovation pathways and highlighting neglected questions relevant from both the theoretical and the practical perspectives.     

Innovation and Development: The Evidence From Innovation Surveys

In this article we investigate the existing evidence on innovation produced by innovation surveys in developing and emerging countries in Europe, Asia, Africa, and Latin America. We review the relevant literature, discuss methodological issues, and analyze the results for the countries with the most comparable surveys, considering the well-established findings of innovation surveys for Europe as a benchmark. From the evidence we considered, regional patterns are identified and some stylized facts on innovation and development are proposed, pointing out the specificity of innovation processes in economies engaged in industrialization and catching up.     

Did the 2008–2009 Food and Financial Crises Affect Child Mortality? The Case of Sub-Saharan Africa

We estimate an aggregate model of child mortality on a panel of 40 African countries over the period 1995–2007. This model is then used to assess the impact of the 2008–2009 food and financial crises on child mortality, by comparing the number of child deaths computed under a “business-as-usual scenario” with those computed under the actual 2008–2009 “crisis scenario”. According to the simulation results, the 2008–2009 food price rise and recession caused a statistically non-significant additional 27,000 child deaths. However, if the 2008–2009 changes in other determinants of child mortality are factored in, the number of child deaths declined by 15,000. This unexpected result is explained by the fact that the effects of the rise in domestic food prices and the recession were offset in most of the region by the protective effect on the under-five mortality rate of a surge in food production, and by a rise in public expenditure on and foreign aid to the health sector.     

Explaining the Reactions of Swiss Municipalities to The ‘Amalgamation Wave’: At the crossroad of institutional,economic and political pressures

Abstract

Public sector organizations are simultaneously subject to three types of environmental pressure: institutional, economic and political. How do these pressures influence the strategic behaviour of public organizations when confronted with efficiency-oriented reforms? We focus on the strategic behaviour of Swiss municipalities facing the amalgamation wave: a reform characterized by a strong economic rationale. Results confirm that the success of reforms depends not only on its matching with economic underpinnings. It is also necessary to take the political leadership and the responsibility of reform implementation.     

The effect of organizational culture on deviant behaviors in the workplace

Abstract

This study investigated the impact of organizational culture (OC) on deviant behaviors in the workplace (workplace deviant behaviors: WDB). We tested the hypothesis that different types of OC (according to the Competing Values Framework model) had an impact on WDB, in addition to the effect of Big Five personality traits. Survey research was undertaken with 954 employees of 30 enterprises in the public and private field, using a hierarchical model approach (HLM) to test the effects of four types of OC (Clan; Adhocracy; Market, Hierarchy) on WDB, over and above the effect of Five Personality traits. The HLM results partially supported our hypotheses, showing that the OC had a significant effect on WDB, with the adhocracy and clan cultures characterized by lower levels of WDB. Managerial implications about the importance of managing the OC are discussed.